India and U.K. Forge Fresh Momentum Toward Historic Free-Trade Future

Against the backdrop of a visiting delegation of more than 100 British business, academic, and cultural leaders, Prime Ministers Narendra Modi and Keir Starmer used Thursday’s India-U.K. CEO Forum to inject new urgency into a trade relationship already transformed by a landmark agreement in July.

After more than three years of negotiations, the two nations signed the Comprehensive Economic and Trade Agreement (CETA) this summer, a pact designed to eliminate barriers, ease tariffs, and weave together sectors from digital services to manufacturing.

Yet, as both sides acknowledged at the Mumbai meeting, the real test lies not in the ink but in the implementation.

At the CEO Forum, the leaders jointly highlighted a bold target: doubling bilateral trade from the current ~ $56 billion mark to $100 billion by 2030.

Standing side by side, Modi and Starmer also formalized institutional architecture to shepherd the pact’s rollout. They signed revised Terms of Reference to reset the Joint Economic and Trade Committee (JETCO), aiming to create mechanisms for discipline and accountability.

In parallel, India’s Commerce Minister Piyush Goyal and U.K. Trade Secretary Peter Kyle met to fast-track implementation of CETA’s provisions across sectors like advanced manufacturing, clean energy, digital trade, and services.

But beyond institutional calibrations and aspirational goals, the delegates listened for signs of resolve. In boardrooms and informal huddles, business leaders probed for clarity on rules of origin, tariff schedules, regulatory harmonization, and dispute resolution.

One central question loomed: how soon can CETA shift from ceremonial promise to everyday driver of commerce?

Modi and Starmer expressed confidence. Modi asserted that “India and U.K. are natural partners,” anchored in shared values of democracy and rule of law, and said that the pact would usher in renewed growth and opportunities.

Starmer echoed the optimism, noting that the forum’s energy — evident from side conversations and dealmaking, was itself a signal that the relationship was entering a mature phase.

Yet challenges lie ahead. The CETA still requires ratification in both countries; in the U.K., a detailed parliamentary process could delay its full activation for months.

On both sides, sectors that fear disruption — from automobile parts to agriculture — may push back against tariff reductions or regulatory harmonization. Observers note that success will depend not only on political will but also on the capacity of agencies and firms to adapt.

In Mumbai, though, the tone was forward-looking. With leaders, investors and CEOs aligned on a shared path, the scene was set not simply for ceremonial signs, but for the beginning of a test: whether two ancient nations, now bound by contemporary ambition, can convert aspiration into enduring economic partnership